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Archive: Thrift Savings Plan

Federal Employee Benefits during COVID19

“We are living in unprecedented and uncertain times.” By now, you have likely heard this ad nauseum, but it doesn’t take away from the fact that we are collectively concerned about the future. Whether it be a volatile economy, furlough fears, or the spread of a novel virus, we are all concerned about how the…

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We are experiencing unprecedented times in modern America. The coronavirus pandemic has burst the economic bubble and left many Americans concerned about their jobs and income. However, history has shown us that now is the time to be proactive and prepare for future growth. Here is a brief overview of 5 things every federal employee…

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Our team of federal employee benefits consultants, case managers and attorneys have extensively reviewed the federal government’s changes coming in the Thrift Savings Plan (TSP) Modernization Act and we’re excited to share what we’ve learned. The Office of Personnel Management (OPM) will implement these new regulations to all new, current and former federal employee TSP…

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The Federal Retirement Thrift Investment Board is planning a “significant launch promotion” beginning this month to implement the Thrift Savings Plan changes stemming from the TSP Modernization Act. Congress imposed a deadline for these changes of November 1st, but the Board plans to implement them on October 1st. Below is a summary of changes participants…

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There will be significant changes made to the Thrift Savings Plan. Effective September 2019, these changes will focus on withdrawal options that have previously lacked flexibility. Because of that, many have looked for alternative options that offer more accessibility and control to their retirement savings. Changes Here are the changes you can expect to see:…

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There is good news if you are a federal employee saving for retirement. The Internal Revenue Service has announced next year’s contribution limits for the Thrift Savings Plan and for Individual Retirement Accounts. You will be able to contribute more to each. 2019 TSP Contribution Limits The annual contribution limit in 2019 will now be…

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There is almost $600 billion just sitting in the Thrift Savings plan waiting for federal employees to use it when they retire. TSP and Congress Congress has a track record of spending money from any available source, so it’s understandable to think of the possibility of them tapping into this money. TSP funds are currently…

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The Thrift Savings Plan program will increase the proportion of some investments in certain stocks with the hopes of growing the amount of money annuitants receive after they retire. Agency officials of the Federal Retirement Thrift Investment Board outlined a 15-year strategy to increase the proportion of equities in the Lifecycle (L) funds, which shift…

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When you retire, your Thrift Savings Plan account may be the largest source of income you draw from. You’ll want to avoid these mistakes to ensure you maximize your retirement income. Keep Your Beneficiary Forms Updated It may be easy to forget about doing this, but not doing so, could have a significant impact on…

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Your Thrift Savings Plan account is where you can save the easiest for your retirement. And for some federal employees, this account balance can be quite large. It may seem enticing to dip into this account if you’re in need of extra money or to put a down payment on a house. First, we’ll look…

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